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Level 2 and Level 4, 84 – 86 Mary Street, Surry Hills

84 – 86 Mary Street is located between Foveaux and Albion Streets close to Central Station. The property comprises approximately 4,847m²* of Net Lettable Area including ground level and upper ground retail/office tenancies, 4 levels of office space and basement car parking for 32 cars. The property’s central lift core allows for natural light on up to all 4 sides.

The client indicated nine months prior to the lease expiry of its major tenant, a leading fashion & footwear website in Asia and Oceania occupying nearly 2,000m²* over 2 levels, that they were to either renew or vacate with six months prior notice.

We informed the owner we were aware of an active prospect, an undisclosed and recently acquired education provider for international students, seeking 2,000m²* having missed out on a proposed lease assignment opportunity elsewhere in the Southern CBD.

Their tenant issued notice to vacate. So, we were notified immediately by the client and arranged our prospect to view that same day. They requested a leasing proposal on inspection which was returned signed the very next day with holding deposit, recognising the lack of supply for similar properties combined with potential of competing interest.

Level 2 and Level 4, 84 – 86 Mary Street was secured off market subject to leases within 24 hours enabling owners, Matthew Lepouris Pty Limited and WFM Motors Pty Limited, to maintain a fully leased building.

Lease Analysis*
Lease Term:Five (5) Years
Parking:Tandem at $600pcm
Single at $425pcm
Start Date:01/02/2016
Gross Rental:$767,190.00